Conducting business since 1986, Austin Asset is one of the first financial advisor firms in Austin to offer fee-only services. The company offers wealth planning and wealth management. It takes the No. 6 spot in SmartAsset's list of top financial advisors in Austin, Texas.
Austin Asset Background
The company's principal shareholders are CEO W. Eric Hehman and Gregory Van Wyk. Hehman is a Certified Financial Planner™ (CFP®) and member of the Financial Planning Association (FPA). He is also a former collegiate golfer at the University of Texas at Austin, where he graduated with a degree in business economics.
Gregory Van Wyk, who is also a CFP® professional, is the executive vice president and the head of wealth planning and client relationships. He’s also a graduate of UT, where he has worked as a adjunct professor for the financial planning certificate program. Jonathan Davison, the chief investment officer and chief compliance officer, is also a CFP. Davison is a Baylor University alum and chairs the investment policy committee at Austin Asset.
Austin Asset Client Types and Minimum Account Sizes
Austin Asset works with individuals, high-net-worth individuals, pension and profit-sharing plans, charitable organizations, corporations and other businesses. It does not have a set account minimum, but it does have a minimum annual fee of $5,000.
Services Offered by Austin Asset
Austin Asset places clients in wealth management programs that offer both financial planning advice and portfolio management services. Its advisors can offer guidance on such topics as:
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses or institutional clients
- Wealth planning
- Financial consulting
The advisory employees at Austin Asset often work as a team, such as during the wealth planning process as well as when its committee reviews investment choices monthly. Of its advisors, 13 hold the CFP® designation.
While the company is not an accounting firm (meaning it’s not licensed to provide bookkeeping services or prepare financial statements), there are three certified public accountants (CPAs) on staff. Usually, those with CPA training are useful for help with tax planning and other accounting needs.
Austin Asset will recommend and advise on the following types of securities your portfolio potentially might include:
- Municipal securities
- Variable life insurance
- Variable annuities
- Exchange-listed securities
- Securities traded over-the-counter
- Foreign issuers
- Corporate debt securities
- Certificates of deposit (CDs)
- Mutual fund shares
- U.S. governmental securities
- Options contracts on securities
Each of these investments involves different degrees of risk. Your wealth manager will keep that in mind when recommending investments to you. Those recommendations will be based on your objectives, tolerance for risk, suitability and liquidity.
Austin Asset Investment Philosophy
Austin Asset emphasizes diversification as a key strategy to manage risk, with asset allocation being the primary factor influencing a portfolio's risk and expected return. The firm believes that equities offer better risk-adjusted returns than fixed income, so their equity allocation is globally diversified to avoid concentration risks, while the fixed-income allocation consists of high-quality, short-term debt to reduce interest rate and default risks.
The equity portion is designed to capture three risk premiums—equity, value, and small company—which are shown to drive returns. Portfolios are monitored and rebalanced as needed to maintain the desired allocation, ensuring alignment with clients’ goals and wealth.
Fees Under Austin Asset
Austin Asset’s fees are based on your portfolio’s value. As a fee-only company, this is the sole way that the company collects compensation. The fee percentage decreases as your portfolio value increases, but the percentages are calculated cumulatively. Fees are calculated on a cumulative basis and are payable in quarterly installments in advance. AUM is determined on a quarterly basis.
There is a minimum annual fee of $5,000. Clients pay fees based on their assets under management, but not less than the minimum.
| Wealth Management Fees | |
| Portfolio Value | Annual Fee |
| Up to $7,500,000 | 0.65% |
| $7,500,001 - $15,000,000 | 0.40% |
| $15,000,001 - $25,000,000 | 0.30% |
| Over $25,000,000 | 0.25% |
For context, the industry average fee for investment management is 1.02%, according to a 2023 report from AdvisoryHQ. Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Austin Asset* | |
| Your Assets | Annual Fee Amount |
| $1MM | $6,500 |
| $5MM | $32,500 |
| $10MM | $40,000 |
| $15MM | $60,000 |
| $25MM | $75,000 |
| $50MM | $125,000 |
Brokerage fees have to be paid separately. This includes transaction charges, brokerage commissions and asset-based fees. For example, if your account purchases a mutual fund from Fidelity, you will have to pay the cost of the transaction to Fidelity through your account. This is the general arrangement for most financial advisor firms.
Learn more about advisors' typical costs here.
Austin Asset Awards and Recognitions
Austin Asset was recognized by Financial Advisor Magazine as one of its top 250 financial advisors in the country in 2017. It was named the No. 1 Financial Planning Firm by Austin Business Journal from 2016-2021.
What to Watch Out For
The firm had no disclosures of legal or disciplinary action in its most recent filings with the Securities and Exchange Commission.
Opening an Account With Austin Asset
To make an appointment to discuss your financial needs, you can call (512) 453-6622, email info@austinasset.com or fill out a contact form on the company’s website.
All information is accurate as of the writing of this article.
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